Gett is an Israeli company whose app assists business people looking for taxis. It began in Israel and now offers a travel platform for businesses in various cities around the world. The company added an additional $15 million to its latest round of funding bringing its total to $115 million.
The new funding will be used by Gett to continue rolling-out its ground travel software platform for businesses worldwide. The additional $15 million is an extension of the $100M round announced in June 2020 to accommodate interest from new investor Pelham Capital Investments Ltd. and Gett’s existing investors. The proceeds will be used to further accelerate the development of Gett’s software as a service (SaaS) platform as well as the company’s global expansion plans.
According to Tech Crunch Gett has now raised a total of $865 million and its last confirmed valuation was $1.5 billion, pegged to a $200 million fundraise in May 2019.
Founded in Israel in 2010 by CEO Dave Waiser, Gett is a ground travel platform for businesses. It states that by optimizing the entire experience – from booking and riding to automatic invoicing and insightful analytics – Gett saves clients 25% on their global ground travel costs.
Gett is thrilled to announce the completion of a $115 million funding round to continue rolling out our ground travel software platform for businesses worldwide ????
— Gett UK (@Gett_UK) January 12, 2021
The company first began as a competitor to ride-share services like Uber and Lyft. In fact, it was first called GetTaxi. In Israel, where it began, taxis everywhere can be seen with a “Gett” sign on their roofs. But that market was already saturated and so the company morphed into a platform offering transportation services for business clients in major cities around the world.
Gett launched one of the first-ever on-demand B2B mobility services in 2010. Gett’s software powers, among other clients, a third of the Fortune 500 list.
Gett boasts that it “brings the fragmented world of ride-hailing companies and corporate fleets together on one platform, optimizing its clients’ corporate ground travel needs, from booking and riding to invoicing and analytics, saving corporates both time and money while increasing employee satisfaction.”
Dave Waiser, Gett Chief Executive Officer, said: “We are on a journey to transform corporate ground travel and I’m delighted that investors find our model attractive. This investment will allow us to further develop our SaaS technology and deepen our proposition within the corporate ground travel market (both travel-related and local ones).